China's investment in foreign wind-powered electricity markets has surpassed $12 billion in Europe and Australia alone as private and state-owned Chinese companies move aggressively to capitalise on fast-growing renewable energy markets, the Institute for Energy Economics and Financial Analysis (IEEFA) said on Thursday. Most of the wind investment activity has been in Europe.
"China is now a driver of the European energy transformation and its international leadership in low emissions sectors of the future are entirely aligned with efforts to increase China's global economic influence," Sydney-based IEEFA analyst Simon Nicholas said."While Chinese foreign renewable energy investments were boosted by the launch five years ago of its Belt and Road Initiative (BRI), its foreign renewable energy investment now extends well beyond that framework."This is a superpower taking its energy policy global," Nicholas said.